SES AI (NYSE:SES) Upgraded by Wall Street Zen to Hold Rating

SES AI (NYSE:SES) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Friday.

A number of other research analysts also recently commented on SES. Cantor Fitzgerald increased their target price on SES AI from $2.00 to $4.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SES AI in a research note on Wednesday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $4.00.

SES AI Stock Down 6.8%

Shares of SES stock opened at $2.40 on Friday. The company’s fifty day simple moving average is $2.03 and its two-hundred day simple moving average is $1.80. SES AI has a 52 week low of $0.38 and a 52 week high of $3.73. The stock has a market cap of $874.34 million, a P/E ratio of -8.55 and a beta of 0.57.

SES AI (NYSE:SES) last issued its earnings results on Wednesday, November 5th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). SES AI had a negative return on equity of 35.31% and a negative net margin of 490.03%.The firm had revenue of $7.12 million during the quarter, compared to the consensus estimate of $4.58 million. On average, analysts anticipate that SES AI will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Hong Gan sold 150,000 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $1.90, for a total value of $285,000.00. Following the sale, the insider directly owned 1,253,286 shares of the company’s stock, valued at $2,381,243.40. This represents a 10.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 500,000 shares of company stock worth $1,108,000. Corporate insiders own 13.80% of the company’s stock.

Hedge Funds Weigh In On SES AI

A number of hedge funds have recently added to or reduced their stakes in SES. Gainplan LLC bought a new stake in shares of SES AI during the fourth quarter valued at approximately $30,000. Verdence Capital Advisors LLC increased its holdings in SES AI by 42.9% during the 3rd quarter. Verdence Capital Advisors LLC now owns 20,000 shares of the company’s stock worth $33,000 after purchasing an additional 6,000 shares during the period. Raymond James Financial Inc. raised its position in SES AI by 35.1% during the 3rd quarter. Raymond James Financial Inc. now owns 20,268 shares of the company’s stock valued at $34,000 after purchasing an additional 5,268 shares in the last quarter. Lido Advisors LLC bought a new stake in SES AI during the 3rd quarter valued at $45,000. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of SES AI in the 2nd quarter worth $31,000. 29.78% of the stock is currently owned by institutional investors.

About SES AI

SES AI Corporation engages in the development and production of high-performance Lithium-metal rechargeable batteries for electric vehicles, electric vehicle take-off and landing, and other applications. The company was founded in 2012 and is headquartered in Woburn, Massachusetts.